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Sen?. by: BRIGGS MORGAN ST PAUL 651 223 6450; 01/05/00 17:14; #105; Page 6/10 13. Mfodifica 'on of Section 3.3; The last sentence of Section 3.3 is deleted in its entirety and replaced with the following: The Developer shall submit to the City on or before delivery of the Tax Increment Note paid invoices or statements in an amount equal to and establishing the Reimbursable Land Acquisition and City Costs and a proposed work plan for the soil correction work, evidence the Developer obtained three bids for the soil correction work and the amount of each of the three bids and invoices or statements in an amount equal to and estublisltiag the Rcinibursablc Soil Currection Costs. 14. Ivlodification of Section 3.4(pj: Section 3.4(a) is deleted in its entirety and replaced with the following: (a) The Tax Increment Note shall be dated, issued and delivered when: i) the Developer has acquired the Development Property; ii) the Developer has substantially completed the Site Improvements; iii) the Developer has incurred and paid all costs of acquiring the Development Property and completing the Site Improvements; iv) the Developer has submitted to the City paid invoices in an amount equal to and establishing the Reimbursable Land Acquisition and City Costs, a proposed work plan for the soil correction work, evidence the Developer obtained three bids for the soil correction work, the amount of each of the three bids and invoices or statements in an amount equal to and establishing the Reimbursable Soil Correction Costs; and v) the Developer has sold to a third party or conveyed to the City, for no consideration, the excess Development Property depicted on the Preliminary Plat of Rice Street Car Wash as Outlet A. 15. Additions to Section 5.1- Developers Option to Terminate: Section 5.1 is deleted in its entirety and replaced with the following: This Agreement may be terminated by the Developer, if (a) (i) the Developer is in compliance with all material terms of this Agreement and no Event of Default has occurred; and (ii) the City fails to comply with any material term of this Agreement, and, after written notice by the Developer of such failure, the City has failed to cure such noncompliance within ninety (90) days of receipt of such notice, or, if such noncompliance cannot reasonably be cured by the City within ninety (90) days of receipt of such notice, the City has not provided assurances, reasonably satisfactory to the Developer, that such noncompliance will be cured as soon as reasonably possible; (b) the Developer notifies the City in writing prior to 11221167.3 4